How To Stay On The Right Side Of Insurance Companies

Insurance companies may present themselves as loyal helpers in an emergency, but they’re not always available to provide the support you may have come to expect. The reasons for them refusing your claim may vary. For example, some insurers may not offer coverage on COVID-19 related circumstances, though you may be able to challenge their decision in certain situations. Still, if you read their terms and practice the specified behaviours in your agreement, in most instances you should be able to remain on their good side and the net the coverage that you seek. 

Here’s a few tips to help you stay on the right side of insurance companies.  

Notify Them of Changes

Some insurers will demand sufficient notice of any change in your circumstances. 

According to The Insurance Surgery, certain changes are optional that may land you a better premium. However, others are more essential. The latter could include:

  • Different employment – A new job potentially means your income will change, and potentially alter your ‘level of risk’ under your current premium. 
  • A new address – If you move into an area that is notorious for crime, theft, or vandalism, this will be something an insurer of any expensive belongings needs to know about. Even if you aren’t moving to such an area, it’s best to notify them of changes all the same. 
  • Customisations and upgrades – Any modifications to your car, for instance, will need to be shared with your insurer. 
  • Illegal activity – Should you have taken out driver’s insurance, then scoring points on your licence will surely mean that your premiums need to go up also. 

Ultimately, insurer’s favour transparency. When motor traders are looking for insurance online, they should always take care to be totally honest about their circumstances in order to get the deal that’s right for them and to make sure they don’t get caught out by holding back information.

If you don’t inform them of any of the changes highlighted above, they’ll surely find out via other means, and much to your dismay. Keep them in the loop of any major life developments, or alterations you’ve made that would feasibly affect your insurance, and all should be well. 

Be Truthful 

As well as disclosing any changes to your circumstances honestly, insurers need to see that you’re truthful when it comes to detailing the circumstances of any claims you make too. 

In 2017, a claimant was promptly dismissed after exaggerating her injuries from a road traffic accident, despite the fact that she did experience a more minor degree of harm. However, because she had needlessly embellished the nature of events in a bid to score more money, she worsened her position detrimentally. Of course, this case took place awhile ago now, but that doesn’t mean insurers have eased up and become friendly in the bleak years since. 

No matter the circumstances, it’s important to always tell the whole unadulterated truth when filing an insurance claim. Not do so risks sullying your character and destroying your credibility, and understandably causing insurers to move away from you. In these circumstances, lying is outright theft, so it’s incredibly important to take these matters seriously and only to use insurance as a way of gaining justice, not unearned profit.  

Make Payments on Time

Like banks, insurers like to see that those they’re helping are reliable and responsible with their money. If they aren’t, they could be deemed a risk…

Practicing good behaviour with your finances should reflect positively on your character, and your worthiness for any additional help. When it comes to insurance, meeting the quota for your repayments is essential. Some insurers may have a support team that you can call if you encounter any difficulties, but otherwise, missed payments will likely lead to your policy and credit agreement being cancelled. 

Of course, insurance is a long-term commitment, rather than a one-off service. Each time you make a payment with your insurance, you’ll also be carefully nurturing a positive relationship with your insurer. If you keep that in mind, and remain true to your word through your payments, you’ll be more likely to remain on your insurer’s good side. 

Meet Additional Conditions

Some insurance policies have certain strings attached, and rightly so. 

For instance, you may be required to perform an electrical testing in your house to appease certain buildings insurers. If it’s not completed within the timeframe that’s outlined in your agreement, then it’s quite possible that the policy will become invalid thereafter. Trade Facilities Services can help you juggle things here, providing prompt and thorough testing that, by the end, will provide you with a certificate to either affirm your property is safe or highlight the areas where there’s room for improvement.  

Try to think of this type of arrangement as meeting the insurers halfway. Electrical testing will mean that your home will be safer, as potential risks can be identified and pre-emptive measures in combatting fire hazards can be taken. All of this tells the insurer that you’re a responsible homeowner, and that you’re doing everything in your power to prevent property damage, and to avoid wasting their money. You’ll then be viewed more favourably, and your premiums could perhaps go down also in some cases. 

Review the Claim’s Process 

All the points highlighted above can be summarised under one conclusion: reviewing the claims process thoroughly. 

Insurer’s can be strict, and depending on who you deal with, even fickle at points. Consequently, this is an area of your life that isn’t the least bit grey, so there’s really no excuse for oversight here. Ignorance isn’t an excuse that insurer’s will readily buy into either, so reviewing all your documentation and utilising the right consultants where necessary should help you steer clear of any misunderstandings here. 

After all, in any important life event, it’s important to double-check all your paperwork. You’d likely do the same for a mortgage, or any other legally binding arrangement in your life. The same principles should be applied to your insurance efforts, so give things a final check over or seek professional advice from those who’ve been authorised to do so by the Financial Conduct Authority.  

It could also be a good idea to keep your partner updated on the topics outlined above also. If their behaviour affects your premiums in any type of joint agreement, then it won’t matter how well you adhere to the advice above – your prospects will suffer regardless! Try open those lines of communication, highlight where there’s potential room for improvement, and move forward from there.

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